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Director of Middle Office Operations - Pasadena California
Company: East West Bank -
Location: Pasadena, California
Posted On: 01/29/2025
IntroductionSince 1973, East West Bank has served as a pathway to success. With over 120 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates' potential for career advancement. Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.OverviewEast West Bank is seeking a Senior Vice President level individual to build and manage a Middle Office Team to support derivatives, foreign exchange, and investments operations. This role will report directly to the CFO and oversee an initial team of four to six FTEs. The Middle Office's mission is to supply the proper infrastructure to support the current and evolving business needs of the bank.The Middle Office team will be part of the 1st line of defense with responsibility to provide support to the Front Office as well as clients. The Middle Office acts as a primary link between the Front Office, Credit, Client Relationship Managers, Legal, Compliance, Controllers and other internal departments to ensure that all transactions, reconciliations and reporting are accurate and that all key controls are in place to mitigate all operational risks. The role demands a deep understanding of business processes, risk based and metric driven change design, coupled with strong leadership and communication skills.Responsibilities - Work closely with Treasury, Accounting, Front Office teams, Relationship Managers, legal and support groups to develop and administer effective risk management policies and promote efficient trading processes.
- Counterparty Onboarding and Documentation:Ensure all required brokerage, FX, and swap credit lines and trading approvals and/or documentation are in place before a counterparty account is opened. Draft and negotiate ISDA Master Agreement, Schedules, Credit Support Annexes (CSA), and FX Agreements as needed. Enforce Dodd Frank compliance
- Trade Capture and Confirmations:Verify trades, as a key control, prior to transactions hitting books and records.Prepare and review counterparty confirmations to verify accurate terms and conditions.Utilize industry trade confirmation systems, such as MarkitWire, Bloomberg, Calypso, & DerivativePath, Manage the counterparty Mark-to-Market statement production, review and distribution process.
- Trade Settlement:Work with counterparty middle office and clearing houses to ensure transactions settle in a timely and efficient manner. Efficiently remedy any trades that did not settle.
- Position Monitoring & Reconciliations:Perform independent portfolio pricing and position monitoring. Perform portfolio reconciliations according to applicable regulations such as Dodd-Frank using TriOptima platform. Reconcile profit/loss reports to the general ledger. Report on daily limits. DTCC trade and valuation reconcilement. Report daily settlement activity, trading limits, Counterparty reporting, etc.
- Pricing and P/L:Perform independent Price Verification to ensure our pricing is on market.Maintain interest rate, pricing, and volatility curves for accurate books and recordsReport daily P&L for all desks
- Collateral Management and Clearing:Manage daily collateral movements for all securitiesManage daily cash collateral for trades governed by a CSA and trades which clear via an exchangeOptimize our collateral pledging strategies to maximize liquidity and decrease associated costs
- Initiatives and Projects:Support and drive technological initiatives that support expanding trade opportunities, improving automation, reducing operational riskPartner with the rest of 1st line to lead to review, design and implement the risk and control program for the group, ensuring projects are adequately resourced and delivered on time Manage and coordinate audits and to address any identified compliance issuesPrepare presentation materials and edit policies and procedures as appropriateDevelop automated dashboards and customized reports to deliver insights on portfolio performance, risk exposures, and compliance with regulatory requirements.Manage complex and variable operations related issues (e.g. across trade booking / settlement / confirmations / etc.), define and communicate problems, develop innovative solutions, streamline processes and lead change initiativesDefine and implement metric strategy for the group, ensuring transformation projects are prioritized in accordance with their impact on reduction in manual processes and risk.Qualifications
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